Sports betting is something that continues to gain popularity all over the globe, and it shows no sign of slowing down any time soon. When it comes to sports betting, South America and India have a lot of things in common, while there are also plenty of differences. In this article, we are going to take a closer look at sports betting in South America and India and see which one has more room for growth.
Sports Betting in India
Sports betting has become a method of entertainment for a large percentage of the Indian population, and sports betting sites all over the world are aware of this. Many bookmakers are more than happy to accept players from India now as they know just how big the market is. Those who do not allow Indians to open an account with them are missing out on a large slice of the pie.
The Legal Status of Sports Betting in India
The laws and regulations surrounding online gambling are a bit of a grey matter in India, and this can come as no surprise when the laws that are in action came about when the British were colonizing India. In other words, the Indian government are still making use of gambling laws that came into being before the Internet was even invented.
For the most part, gambling is prohibited throughout India, although it is legal in a couple of states such as Sikkim and Goa. In these two states, you will come across a few land-based casinos. However, when it comes to sports betting, Indians can open an account with a sports betting site so long as they are not based within India. The Indian government are fully aware as to how much money they are losing in taxes, so it is highly likely that at some point soon they will amend the laws and regulations to include online sports betting.
Sports Betting Options in India
According to statistics and estimates, around half a billion Indians have regular access to Internet, while over 400 million watch sporting events and bet on sports. Below we shall look at the popular sports that Indians enjoy betting on.
Cricket, without a doubt, is the most popular sport in the country. When people say that cricket is like a religion in India, they are not lying. When the Indian cricket team is playing or if there is an Indian Premier League game being played, the whole country basically stops to follow the events.
As well as watching cricket, Indians love to place bets on it. It has been estimated that Indians wagers $50-60 million on every IPL match. Bookmakers know just how much Indians love cricket betting, which is why the majority will do their utmost to ensure that they have plenty of markets and great odds for all the best cricket competitions such as the IPL, The Ashes, The Big Bash League, the World Cup and ODI and Test matches.
Football is the most popular sport in the world, and it is also very popular in India, although not as popular as cricket. The football competitions that Indian football fans like to focus on are the Indian Super League, the China Super League, and the MLS. They also follow the biggest leagues in Europe such as the Premier League, La Liga, Serie A, and Bundesliga. They also like to watch and bet on the Europa League and the Champions League. Indians love for football betting means that bookmakers offer markets and odds for many lesser leagues around the world.
Indians love their horse racing and when it comes to popularity it is only behind cricket. While land-based sports betting is prohibited across the country, there is an exception when it comes to betting on horse racing. We do not know why this is the case, but it likely has something to do with the fact that horse racing would probably become obsolete if nobody could bet on it.
Horse racing is a popular sport all over the world, so most bookmakers that Indians can open an account with will have odds and markets for a wide variety of horse racing events.
Sports Betting in South America
Sports betting within South America is very diverse. This is not too much of a surprise since the different countries obviously have different laws and regulations when it comes to sports betting. Below we are going to have a look at sports betting in some of the biggest countries in South America.
Brazil is a huge country with a very big population. The people of Brazil have plenty of interests but betting on sports is one that stands out from the crowd. When it comes to the legalities of sports betting, land-based sportsbooks are illegal, which is why black sports betting markets are thriving in Brazil.
Just like with India, online sports betting is a grey area. The current laws and legislation in place do not prohibit online betting, so there are a number of legitimate bookies out there that are happy to accept players from Brazil.
Brazilians enjoy betting on a variety of sport, but the one that stands out in terms of popularity is obviously football. The whole world knows how much Brazilians enjoy this sport. The people of Brazil rarely miss out on an opportunity to place bets on the Copa Libertadores or the Brazilian Championships. Obviously, whenever the Brazilian national team are playing there will be plenty of bets placed too. Other sports that Brazilians enjoy betting on include horse racing, basketball, UFC, and MMA.
Sports betting goes back to the 1800s in Argentina. Just like with Brazil, football is the sport that leads the way when it comes to Argentinian sports betting. Why would you not have a passion for football when some of the greatest players to play the game have hailed from your country. We are obviously talking about the likes of Diego Maradona and Lionel Messi here. Other sports that Argentinians enjoy betting on include boxing, tennis, volleyball, and basketball.
The different provinces in Argentina have the authority to regulate sports betting, which means that in some provinces sports betting is legal, while in others it is illegal. Therefore, if you are in Argentina and you want to do some online sports betting, you should check whether it is legal to do so in the province that you are in. Buenos Aires, the country’s capital, was the latest province to allow online sports betting.
Before 1990, the only sport that Chileans could place bets on was horse racing. However, the government soon realized just how much the people of Chile love to bet on sports and how much money can be made from it, so they eventually came up with regulations and laws for online casinos and sports betting. These regulations state that betting sites must pay 20% taxes on their income from Chilean gamblers. This was put in place to ensure the betting platforms play by the correct rules or run the risk of losing their license.
When it comes to sports betting, it is safe to say that the people of Chile are not too picky about what sport they are putting their money on. However, like with Brazil and Argentina, football is the most popular sport in the country. With regards to sports betting sites, there are no shortage of them out there that are happy to accept players from Chile.
Where is There More Potential for Growth?
We have taken a closer look at sports betting in India and some of South America’s biggest countries, so we are now going to take a quick look at which one has more room for growth.
Legality: In this regard, South America and India have similar unresolved issues. They have outdated regulations and different laws for different states and countries that obviously have a negative impact on the sports betting industry in these regions. Only a couple of state in India and a few countries in South America have legalized gambling.
Large bookies: The markets available are obviously limited by the issues that we just mentioned above, but there are plenty of international bookies that are happy to accept players from India and South American countries. However, when it comes to quantity and quality of bookmakers available, Indians have an advantage over those from South America.
Payment methods: The amount of payment options available is a good level for both India and South America. However, this being said, e-Wallets, credit cards, and cryptocurrency options are more diverse for Indian sports betting fans.
It is clear that India has more room for growth in the sports betting industry, but it is also clear that both South America and India have plenty of issues that need to be resolved so that their people can enjoy the same sports betting experience that many other nationalities experience around the world.